Analysts split on East Coast Road GLS bid outlook

Top-bid forecasts range from $1,100 to $1,550 psf ppr.

Property consultants offered sharply different bid forecasts for the newly launched East Coast Road government land sales site, reflecting a balance between its attractive location and the challenges of developing a small project.

The Urban Redevelopment Authority released the residential site under the second-half 2026 GLS Confirmed List. It could yield approximately 85 homes, with the tender closing at noon on 3 December.

Realion Deputy Group CEO Justin Quek expects the plot to attract between three and six bids, with the highest offer ranging from $1,450 to $1,550 psf per plot ratio.

Huttons Asia CEO Mark Yip projected up to five bidders but estimated a lower top bid of between $1,100 and $1,300 psf ppr.

Both consultants said the site’s relatively small scale could attract developers seeking to undertake a boutique residential project.

Yip noted that the 85-unit plot is the second-smallest site by dwelling yield offered under the GLS program, behind the 84-unit Chong Kuo Road site.

However, both analysts warned that a smaller development would have fewer economies of scale, potentially resulting in higher construction costs.

Huttons also highlighted a drain running through the middle of the site. Yip said a bridge may have to be constructed to connect the project’s two blocks, adding to development complexity.

The future project will also face competition from developments arising from the Bayshore Drive, Bedok Rise and New Upper Changi Road GLS sites.

Realion, however, said the limited supply of new homes along East Coast Road could generate pent-up demand.

The nearest GLS plot was the Siglap Road site awarded in 2016, which was subsequently developed into Seaside Residences. Realion said the last new project launched in the immediate area was the 41-unit 77 @ East Coast in March 2020.

Quek said the plot could appeal to developers seeking a boutique development within a predominantly low-rise, freehold and affluent landed neighborhood.

The site is near eateries and retail amenities at Siglap Centre and Siglap V. Siglap MRT station is within walking distance, whilst East Coast Park is approximately a 15-minute walk away.

Several schools are also located within 1km, which consultants said could support demand from families.

Realion said the nearby New Upper Changi Road site was awarded at $1,537 psf ppr in September, whilst the Bayshore Drive mixed-use site was awarded at $1,323 psf ppr in July.

Despite these benchmarks, rising construction costs and economic uncertainty could make developers more cautious when bidding for the East Coast Road site.